Dr Lal PathLabs posted a 27% rise in second-quarter profit on Wednesday, reaching 1.92 billion rupees. Higher demand for preventive health check-ups helped the company, as it tested 13.6% more samples. CFO Ved Goel said, "The diagnostics industry continues to benefit from increasing healthcare awareness and rising adoption of check-ups."
Dr Lal PathLabs announced a 27% increase in its second-quarter profit, with net earnings rising to 1.92 billion rupees. The company experienced a near 20% increase in consolidated revenue from operations during this period. A rise in healthcare awareness has fueled the demand for preventive health check-ups, contributing to these earnings. Dr Lal tested 13.6% more samples this quarter compared to the previous year.
Dr Lal PathLabs posted a more than 27% rise in second-quarter profit on Wednesday, helped by higher test volumes and demand for preventive health packages.
The Indian lab operator's consolidated net profit for the three months ended September 30 rose to 1.92 billion rupees ($20.27 million), from 1.51 billion rupees a year earlier.
Shares of the company were up 3.6%
Dr Lal reported a near 20% increase in consolidated revenue from operations to 8.74 billion rupees during the quarter
"The diagnostics industry continues to benefit from increasing healthcare awareness, rising adoption of preventive health check-ups, and expanding access to diagnostic services across India," said Group Chief Financial Officer and CEO, international business, Ved Goel
The company, which operated 312 labs as of March 31, tested 13.6% more samples in the second quarter
"The organized diagnostics sector is also witnessing sustained consolidation, creating opportunities for scaled players with strong quality credentials and nationwide reach," Goel said.